Crude futures turns lower in late New York trading

SAN FRANCISCO (MarketWatch) -- January crude fell 24 cents to $62.25 a barrel in the last few minutes of trading on the New York Mercantile Exchange. That marked a complete reversal from the one-week high of $63.65 the contract saw earlier, and prices were ready to end the week nearly 2% lower. Phil Flynn, a senior analyst at Alaron Trading, blamed the price reversal on a "technical sell off" as the week comes to a close.

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